GEM Realty Capital Acquires Property In Boca Raton For $34.6 Million With Broker Dominic Montazemi

Gem Realty Capital has acquired an office asset located at 975 S Federal Hwy, Boca Raton, FL for $34,600,000. The property, known as Wells Fargo Plaza, consists of a seven-story office building and a two-story structure that includes a retail branch, offering a total of 102,431 square feet of space. The acquisition took place within the Boca Raton market.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $34,600,000.00
• Address: 975 S Federal Hwy, Boca Raton, FL
• Seller: IP Capital Partners
• Buyer: GEM Realty Capital
• Seller's Representative: Dominic Montazemi (Cushman & Wakefield)
• Square Footage: 102,431
• Year Built: 1999
• Location: 925 and 975 S. Federal Highway, Boca Raton, FL
• Tenants: Wells Fargo, Kanner & Pintaluga, P.A., MoreVisibility

A Cushman & Wakefield team that included Mike Davis, Dominic Montazemi, Scott O’Donnell, Rick Brugge, and Michael Lerner represented the seller, IP Capital Partners, in the transaction. Wells Fargo has maintained its tenancy at the property since its construction and has recently renewed its lease through 2025.